Oramed Pharma Gets Patent In European Union For Oral Delivery Of Insulin

(RTTNews) - Oramed Pharmaceuticals Inc. (ORMP) announced that the European Patent Office has allowed the Company's patent for its invention, titled "Methods and Compositions for Oral Administrations of Proteins."

Europe is one of the world's largest healthcare markets with an estimated $322 billion market value in 2012, accounting for over one quarter of the world pharmaceutical market, according to a report by the European Federation of Pharmaceutical Industries and Associations.

According to Frost & Sullivan the European diabetes market accounted for $8.6 billion in revenues in 2010 and is estimated to grow to $14 billion by 2017, driven by new classes of drugs to treat the disease.